Hostess Brands Inc. got final approval for its wind-down plans in bankruptcy court Thursday, setting the stage for its roster of snack cakes to find a second life with new owners — even as 18,000 jobs will be wiped out.

The company said in court that it's in talks with 110 potential buyers for its brands, which include CupCakes, Ding Dongs and Ho Hos. The suitors include at least five national retailers such as supermarkets, a financial adviser for the company said. The process has been "so fast and furious" Hostess wasn't able to make its planned calls to potential buyers, said Joshua Scherer of Perella Weinberg Partners.

"Not only are these buyers serious, but they are expecting to spend substantial sums," he said.

The update on the sale process came as Hostess received approval in U.S. Bankruptcy Court in the Southern District of New York in White Plains, N.Y. to give its top executives bonuses totaling up to $1.8 million for meeting certain liquidation goals. The company says the incentive pay is needed to retain the 19 corporate officers and "high-level managers" during the wind down process, which could take about a year.

The bonuses aren't a huge deal. Those top level people need a reason to hang around to close everything out. The IRS is going to want every last dime they can get out of that liquidation which is why that was granted. Seems shady, but in reality it's necessary.

The bonuses aren't a huge deal. Those top level people need a reason to hang around to close everything out. The IRS is going to want every last dime they can get out of that liquidation which is why that was granted. Seems shady, but in reality it's necessary.

But what is wrong with those executives just getting their normal paycheck instead of their paycheck+bonuses? A colleague of mine at work has just been told that his contract will not be renewed next year. Are the company offering him anything extra? Nope, he gets his monthly paycheck and when the time is up, that's it. Does he still have responsibilities while he is with us? Of course. And he will fulfil those responsibilities to the best of his ability so that he gets his paycheck. He doesn't need a bonus to sweeten the deal for him. Does being in a managerial position suddenly change that mentality?

But what is wrong with those executives just getting their normal paycheck instead of their paycheck+bonuses? A colleague of mine at work has just been told that his contract will not be renewed next year. Are the company offering him anything extra? Nope, he gets his monthly paycheck and when the time is up, that's it. Does he still have responsibilities while he is with us? Of course. And he will fulfil those responsibilities to the best of his ability so that he gets his paycheck. He doesn't need a bonus to sweeten the deal for him. Does being in a managerial position suddenly change that mentality?

If you're a lazy ******* that was leeching the company dry without intention of actually doing anything for the pay? Then yes

The update on the sale process came as Hostess received approval in U.S. Bankruptcy Court in the Southern District of New York in White Plains, N.Y. to give its top executives bonuses totaling up to $1.8 million for meeting certain liquidation goals.

The update on the sale process came as Hostess received approval in U.S. Bankruptcy Court in the Southern District of New York in White Plains, N.Y. to give its top executives bonuses totaling up to $1.8 million for meeting certain liquidation goals.

That's just wrong.

Agreed, super messed up. This is after the union had already accepted cuts years ago in order for the business to keep running. In hindsight, it was only a matter of time. People are trying to eat healthier, and these sugary snack foods were the first thing off most people's lists (seriously, the only time I ever bought these was at a gas station in the middle of nowhere during a road trip), and it definitely didn't help that management was terrible either (7 different CEOs in 10 years.. that's very high turnover).

It's times like these that make me want more Elizabeth Warrens in a sense. Clearly the wealthy have had things stacked in their favor for quite some time, I'm hoping the pendulum swings the other way for a change to benefit the middle class for once.

The bonuses aren't a huge deal. Those top level people need a reason to hang around to close everything out. The IRS is going to want every last dime they can get out of that liquidation which is why that was granted. Seems shady, but in reality it's necessary.

Actually they are because they are completely stupid. and why would you want the people who got you in this situation to liquidate it... makes no sense. over here when a company goes bankrupt the assets are handled by third part holding/handler or something I believe, there's a name for the people/company that manages the assets of a bankrupt company, which I don't remember and can't translate

Agreed, super messed up. This is after the union had already accepted cuts years ago in order for the business to keep running. In hindsight, it was only a matter of time. People are trying to eat healthier, and these sugary snack foods were the first thing off most people's lists (seriously, the only time I ever bought these was at a gas station in the middle of nowhere during a road trip), and it definitely didn't help that management was terrible either (7 different CEOs in 10 years.. that's very high turnover).

It's times like these that make me want more Elizabeth Warrens in a sense. Clearly the wealthy have had things stacked in their favor for quite some time, I'm hoping the pendulum swings the other way for a change to benefit the middle class for once.

Well the Teamsters Union agreed to cuts, but the majority Bakers Union wouldn't negotiate.

And Elizabeth warren are you serious, that woman is a complete whack job!

First off, now I completely understand why a friend of mine has pushed to get their Business degree....so they can turn off their brain and turn on their bank account. Only in business and politics can you **** up beyond all reason and come out not only smelling of roses but richer than you'll ever need for the next seven lifetimes.

About Sen. Elect Warren, I absolutely agree that we need more people of her intelligence and integrity in Washington. She's already doing her best to do what she can and she hasn't been sworn in yet. If Congress has more people like her and Sen. Sanders (I-VT) then the middle class would be a lot stronger, and the rest of the nation along with it, than they are now.

Actually they are because they are completely stupid. and why would you want the people who got you in this situation to liquidate it... makes no sense. over here when a company goes bankrupt the assets are handled by third part holding/handler or something I believe, there's a name for the people/company that manages the assets of a bankrupt company, which I don't remember and can't translate

curators we call them, I think it's the same in English

edit: according to google translate it would be called a trustee in English, but that might have a different meaning